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Commission Invoice-Lowe Gallery

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Commission Invoice-Lowe Gallery Powered By Docstoc
					DEVELOPERS DIVERSIFIED CORPORATION
BURNHAM PACIFIC
COMMISSION APPROVAL

DATE:                                           8/31/2001
PROPERTY:                                   Lake Arrowhead Village
NAME OF TENANT:                             Lowe Gallery/Miss Kitty's
TYPE OF LEASE:                                                    New                          X            Renewal
SQUARE FOOTAGE LEASED:                                960
LEASE TERM:                                                5      yrs.                               2      Months
COMMENCEMENT DATE EXPECTED:                       3/1/2002


RENT PER SQUARE FOOT:                           Annual                   Annual             Annual               Annual
                                                Rent/SF                  Rent              Rent/SF               Rent
              Year One                      $       19.80         $      19,008.00
              Year Two                      $       20.79         $      19,958.40
              Year Three                    $       21.83         $      20,956.80
              Year Four                     $       22.92         $      22,003.20
              Year Five                     $       24.07         $      23,107.20
              Year Six                      $          -          $               -
              Year Seven                    $          -          $               -
              Year Eight                    $          -
              Year Nine
              Year Ten
TOTAL RENTS:                                                      $ 105,033.60                              $           -
COMMISSION PERCENTAGE:                                      (A)                   3%                  (B)             3.0%
                                                                  $       3,151.01                          $           -


TOTAL COMMISSION (A+B)                                            $       3,151.01


WAS AN OUTSIDE BROKER USED?                 X                     Yes                                       No
NAME OF BROKER:                             GC Properties
OUTSIDE COMMISSION AMOUNT:                      $2,100.67
COMMISSION DUE DDR                          $ 1,050.34
LEASING MANAGER (Print Name & Sign):                              Margaret Georgilas


APPROVED BY (Print Name & Sign):                                  Margaret Georgilas


Commission Structure:
New Leases with a cooperating Broker                                                   New Leases without a cooperating Broker
 6.0% of the base rent for years 1 - 5                                                   5.0% of the base rent for years 1 - 5
 3.0% of the base rent for years 6 - 10                                                  2.5% of the base rent for years 6 - 10
Ground Leases:
  3.0% of the base rent for years 1 - 5 ;       1.5% of the base rent for years 6 - 10
Renewals:
  50% of the commission that would be paid for a new lease
  The parties acknowledge that a "renewal" is an execution of a new lease with a tenant
  for a space previously occupied by such tenant for the term exceeding the last date
  of any extension option set forth in the existing lease with such tenant.
Timing:
  50% payment on complete execution of unconditional lease - remainder paid upon commencement

				
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